Market Opens :
It is a flat start for the Indian indices on Thursday.
At 09:17 hrs IST, the Sensex is down 8.36 points or 0.02% at 38576.99, and the Nifty down 1.40 points or 0.01% at 11582.90. About 419 shares have advanced, 296 shares declined, and 42 shares are unchanged.
IOC, Wipro, BPCL, HPCL, Tata Motors, HUL, Indiabulls Housing, Asian Paints, Yes Bank, Hero Motocorp are among major gainers on the indices, while losers are Sun Pharma, Vedanta, Zee Ent, Infosys, Adani Ports, Cipla, Hindalco and Axis Bank.
Among the sectors, bank, IT, metal and pharma are trading lower, while some buying seen in the energy, infra and FMCG sectors.
Currency :
Rupee Opens:
The Indian rupee opened lower by paise at 69. 21 per dollar on Thursday against Wednesday's close 69.11.
Rising for the second straight session, the rupee advanced 19 paise Wednesday to close at 69.11 against the US dollar on strong foreign fund inflows amid the greenback's weakness against key rivals overseas.
Global Markets :
SGX Nifty :
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 17.5 points or 0.15 percent. Nifty futures were trading around 11,669-level on the Singaporean Exchange.
U.S. Market :
Technology stocks led Wall Street slightly higher on Wednesday, as US inflation data proved to be benign and the minutes from the Federal Reserve’s March meeting were unsurprising.
Asian Markets :
Asian stocks held near eight-month highs on Thursday and the dollar slipped again on expectations global interest rates will stay lower for longer after a dovish turn by the European Central Bank and milder than expected US inflation.
Crude Update :
Oil prices fell on Thursday after US crude stockpiles surged to their highest levels in almost 17 months amid record production.
Domestic Markets :
Lok Sabha election voting LIVE :
EVM malfunction reported from Odisha, Bengal and UP; PM Modi urges people to vote
Reports of EVM malfunction
Voters reported EVM machines not working from 7am at Butchirajupalem in Visakhapatnam.
Voting also halted in one of the booths of Cooch Behar due to EVM malfunction.
Initial reports of EVM glitches also reported from various parts of the four constituencies of Odisha voting today.
As the nation votes in Phase 1 of Lok Sabha elections, PM Narendra Modi announced on Twitter that he will be addressing a rally in Bhagalpur, Bihar. "Later in the day, I will be in Assam where I will join public meetings in Mangaldai and Silchar. The mood across the nation is firmly in favour of the NDA
The tug of war between the bulls as well as bears continued.
However, bulls failed to maintain their lead as bears took lead in pushing the index lower towards crucial support levels in the second half of the session on Wednesday.
The index witnessed selling pressure in the second half of the session after starting on a positive note largely on account of weak global cues. Investors also remained cautious ahead of central elections and US-Europe trade tensions.
On the institutional front, FPIs were net buyers in Indian markets for Rs 1429 crore while DIIs were net buyers to the tune of Rs 461 cr.
Technical View:
Nifty formed a bearish candle on the daily charts
Nifty has been consolidating in between 11550 to 11750 zones from last nine trading sessions.
A close below 11550 could drag the index lower towards 11500-11520 levels
While a break below 11500 levels could trigger further profit taking
If it fails to hold 11550 zones then a short term profit booking decline could be seen towards immediate support of 11520-11500 zones while hurdles are placed at 11666 and 11680 zones.
Three levels: 11550, 11571, 11680
Max Call OI: 12000, 11800
Max Put OI: 11000, 11500
Stocks in news :
Pharma major Wockhardt on Wednesday said it has received approval from the US health regulator for its 50 mg injection of Decitabine which is used to treat certain forms of cancer.
The country's largest private sector steel-maker JSW Steel on Wednesday raised $500 million through an international bond issue.
Tata Motors on Wednesday reported 5 percent decline in global sales, including that of Jaguar Land Rover (JLR) vehicles, at 1,45,459 units in March.
TCS: Company partners with Google cloud to build industry-specific cloud solutions.
Welspun Corp: Company has received additional pipe orders of 180 KMT on a global basis.
NMDC - Total production at 4.04 MT, while sales stood at 3.59 MT in March 2019
Wipro: Board meeting scheduled to be held on April 16 to consider a proposal for buyback of equity shares of the company.
Tanla Solutions: Company completed the acquisition of Karix Mobile as per the signed share purchase agreement.
Aarti Industries - CRISIL revised the long-term rating to CRISIL AA-/Positive
Blue Star: Company has filed petition for liquidation of Blue Star Oman Electro-Mechanical Company LLC, its joint venture in Oman with the jurisdictional court in Oman.
RIL clarified that RIL or any of its subsidiaries neither set up any gas pipeline in 2006, nor have contracts with any Netherland company for setting up of any gas pipeline and hence the report cannot relate to RIL
Sobha: Sobha Developers (Pune), wholly owned subsidiary of Sobha has acquired 100 percent equity shares of Sobha Interiors.
Cox & Kings - Equity shares of Cox & Kings Financial Service shall be listed and admitted to dealings on both the Exchanges w.e.f. April 11, 2019.
HT Media: ICRA revised rated limits for commercial paper programme from Rs 1,500 crore to Rs 1,000 crore. The credit rating assigned to CP programme re-affirmed as A1+.
Info Edge: Company has invested through its wholly-owned subsidiary about Rs 14 crore in Agstack Technologies Private Ltd.
Kansai Nerolac Paints: Company acquired 100 percent equity share holding of Perma Construction Aids Pvt. Ltd.
Shoppers Stop opened new store at Guwahati
Jet Airways: IOC halts ATF supply to company across India - CNBC-TV18 Sources.
Jet Airways: SBI issues clarification to Jet Airways' potential bidders - CNBC-TV18
Bharti Airtel fixed April 24 as record date for right issue
NBCC: Company received orders worth Rs 3,030 crore in March.
Hindustan Media Ventures: ICRA revised rated limits of commercial paper (CP) programme from Rs 400 crore to Rs 200 crore. The credit rating assigned to CP programme re-affirmed as A1+.
Confidence petroleum India has completed and got license of 10 more auto LPG dispensing stations
Hatsun Agro Products -CRISIL put long term rating as 'CRISIL A+/ Stable' and short term rating as 'CRISIL A1' to the bank loan facilities and of the company.
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